Ahead of the Bell: Amazon.com to post 3Q results
NEW YORK (AP) — Analysts expect Amazon.com Inc. to report another quarter of double-digit revenue growth Thursday after the market closes. But its ongoing investments in new distribution facilities to grow its online retail business will likely weigh on earnings.
The world's largest online retailer is expected to post a third-quarter loss of 7 cents per share on revenue of $13.91 billion, according to FactSet.
The Seattle-based company said in July that it expects third-quarter revenue to grow between 19 and 31 percent from a year earlier. That amounts to sales of $12.9 billion to $14.3 billion. It also forecast an operating loss of $50 million to $350 million.
Susquehanna analyst Herman Leung expects Amazon to meet Wall Street's expectations and give "conservative" guidance for the holiday shopping season.
Amazon's stock rose $1.70 to $230.19 in premarket trading Thursday.